Lei Di Network Lei Jianping August 3rd
The IPO of Certus Information Technology Co., Ltd. (abbreviation: Certus) was terminated a few days ago.
Certus submitted the prospectus in September 2021, passed the IPO meeting in March 2022, and submitted the registration in the same month, but the registration was terminated on July 20, 2023.
Certus had planned to raise 630 million yuan, of which 100 million yuan was used for the capability improvement project of software-defined communication network element solutions, 100 million yuan was used for the capability improvement project of software-defined data center network solutions, and 98.85 million yuan was used for For the business arrangement and support system service capability improvement project, 230 million yuan will be used for the R&D center construction project, and 100 million yuan will be used to supplement working capital.
The amount of overdue accounts receivable exceeds 800 million
Certus Information is a provider of software-defined communication products and solutions, oriented to the fields of data centers, communication networks, and intelligent operation and maintenance, providing customers with a new generation of information network infrastructure and technical services.
The company's main products and services include cloud platform products, cloud technology services, virtual routers, software-defined wide area network products, edge computing products, IPTV monitoring and supervision systems, business operation support systems, and monitoring and inspection systems. The company is committed to improving the digital and intelligent level of customers. The main customers include telecom operators, State Grid, aerospace science and industry, radio and television and other enterprises and institutions.
According to the prospectus, the revenue of Certus Information in 2018, 2019, and 2020 was 662 million yuan, 818 million yuan, and 772 million yuan respectively; the net profit was 179 million yuan, 104 million yuan, and 81.64 million yuan; The net profit was 165 million yuan, 88.827 million yuan, and 68.0366 million yuan.
During the reporting period, the sales revenue achieved by the company to the top five customers accounted for 59.32%, 77.96%, 91.67% and 87.49% of the main business revenue respectively.
At the end of each reporting period, the original value of the company's accounts receivable was 553 million yuan, 766 million yuan, 893 million yuan, and 1.067 billion yuan, accounting for a relatively high proportion of operating income in each period, respectively 76.81% and 83.23% , 100.13% and 130.17%; the amount of overdue accounts receivable is relatively large:
At the end of the reporting period, the company's overdue accounts receivable amounted to 819.4 million, accounting for 76.78% of the accounts receivable, of which the proportion of accounts receivable overdue for more than one year was 44.24%. The aging of accounts receivable is long:
During the reporting period, due to the influence of the nature of customers, the company’s receivables have a long collection cycle, which makes the aging of accounts receivable longer. At the end of each reporting period, the proportion of the company’s accounts receivable with an age of more than one year gradually increased , respectively 23.19%, 32.38%, 44.90% and 48.53%.
During the reporting period, the company's government subsidies other than value-added tax rebates were 17.5299 million yuan, 17.4792 million yuan, 16.8498 million yuan and 10.0344 million yuan, accounting for 8.70%, 15.87%, 17.60% and 35.97% of the company's operating profit .
Certus' revenue in 2021 will be 829 million yuan, an increase of 7.46% over the previous year. The main reason is that customer demand for software-defined data center business and software-defined communication network element business will maintain an upward trend in 2021, bringing the company Growth in revenue throughout the year.
In 2021, the company's net profit attributable to the owners of the parent company was 122 million, an increase of 49.68% over the previous year, and non-net profit after deducting it was 108 million yuan, an increase of 58.26% over the previous year.
Certus has not announced performance data for 2022, and performance data for the first half of 2023 has not been updated.
The actual controller, Lu Lijun, is an American
Before the IPO, Xuzhou Huamei held 10.46% of the company's shares and was the company's controlling shareholder.
LULIJUN (逯利军) is the actual controller of the company through the voting rights of 21.42% of the shares of Xuzhou Huamei and its concerted actors Nanjing Meining and Dongyang Saichuang Control Company.
Nanjing Gaoke Xinchuang Investment Co., Ltd. holds 5.79% of the shares, Shenzhen Innovation Investment Group Co., Ltd. holds 5.51% of the shares, Dongyang Sachuang Enterprise Management Partnership (Limited Partnership) holds 4.65% of the shares, and CICC Qirong (Xiamen) Equity Investment Fund partnerships (limited partnerships) hold 4.18% of the shares;
Nanjing Gundam Wutong Venture Capital Fund (Limited Partnership) holds 2.68% of the shares. Changzhou Wujin Hongtu Venture Capital Co., Ltd. holds 2.27% of the shares, Changzhou Hongtu Innovation Venture Capital Co., Ltd. holds 2.14% of the shares, and Yinhe Yuanhui Investment Co., Ltd. (SS) holds 1.61% of the shares.
The current board of directors of Certus Information is composed of 9 directors (including 3 independent directors). Among them, four non-independent directors, LU LIJUN (Lu Lijun), QIAN PEIZHUAN (Qian Peizhuan), HE BIN (He Bin), and Li Xu, were nominated by the controlling shareholder Xuzhou Huamei; three independent directors, Wang Siwei, Song Jian, and He Yuanfu, were all appointed by the controlling shareholder Nominated by shareholder Xuzhou Huamei.
LU LIJUN (逯利军), as the actual controller of Xuzhou Huamei, can determine the appointment of more than half of the members of the company's board of directors. LU LIJUN (逯利军): male, born in 1968, American, since December 2015, has been the chairman of Certus Information.
QIAN PEIZHUAN (Qian Peizhuan): male, born in August 1962, Singaporean nationality, served as a teacher at Fudan University from August 1984 to September 1991; from September 1991 to January 1993, worked as a teacher at ECS RealTime System Pte in Singapore Ltd. R&D engineer; From March 1994 to September 1996, worked as an application system expert in the R&D department of Trident Infotech Pte Ltd, Singapore; from September 1996 to December 1999, served as the chief engineer of the R&D department of Singapore Technology and Electronics Corporation; in 2001 1 From July to June 2001, he worked as a software engineer in the R&D department of Coast Communication Inc in the United States; from July 2001 to April 2004, he served as the director of the software development department in the R&D department of Corvis Inc. in the United States;
QIAN PEIZHUAN (From April 2004 to July 2005, he served as the chief engineer of the R&D department of Net Immune Inc. in the United States; from August 2005 to January 2007, he served as the chief engineer of the R&D department of Riorey Inc. in the United States; in January 2007 Until February 2008, served as the chief engineer of the R&D department of Certus Network Technology Co., Ltd.; from February 2008 to March 2013, served as the director and deputy general manager of Certus Co., Ltd.; from September 2011 to October 2020, Served as director of Shanghai Yuansai; from March 2013 to December 2015, served as director and deputy general manager; since December 2015, served as director and general manager of Certus Information;
According to the calculation of the upper limit of this issuance, after this issuance, LULIJUN (逯利军) will control the voting rights of the company in total to 18.21%.
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